At first glance, the diamond industry gives off the impression of having a relatively brief and uncomplicated production chain. The initial step in the process is the mining of the diamond, which is then followed by the trading of raw materials, the polishing of the diamond, and the sale of the diamond as an asset diamond. The process, however, is somewhat more involved than it first appears.
Raw diamonds can be processed in countries that either have their own mines or have access to the necessary financial resources, high-tech gear, and years of industry experience. These countries become major industrial hubs despite the fact that there aren’t any mines within the borders.
On the contrary hand, there are countries that are not only capable of mining diamonds but also processing them. In point of fact, distinguishing between the two can be difficult at times, and there is always the possibility of overlap. This collection of essays will show that the global market economy also has an impact in defining the obligations of various regions, as will be demonstrated in the series.
Countries that both discover and manufacture diamonds are referred to as diamond-producing nations. The Earth is divided into several bands, the two most prominent of which are the northern band as well as the southern band. A third band located in the middle of the ring also has diamonds, but there are less of them and their worth is lower. The northern band is comprised of both Russia and Canada, which are respectively the top diamond producers in the world. The Southern band is comprised of countries in Southern Africa like Botswana, South Africa, & Namibia, in addition to Australia. Ivory Coast & Sierra Leone are located in Africa, whereas Venezuela and Brazil are located in South America. Together, these five countries make the middle band.
Top Countries for Diamond Production in World
Here is a list of the countries who are the largest producer of diamond in the world:
It is considered that Russia possesses the most valuable and extensive diamond resource in the world. They are the largest producer & exporter of raw diamonds around the world. This is measured by volume. In 2014, diamond miners in Russia produced between 38 and 39 million carats worth of diamonds. ALROSA is the largest diamond miner in the country and has a relatively close on the sector.
It is responsible for well over 90 percent of the annual production of diamonds in the country. Mines in Russia produce diamonds of varying sizes and shapes of all various kinds. Both their luminosity and their crystalline structure, which resembles sharp diamond with eight different facets, are well-known. There are several mines in Russia that produce yellow diamonds as well.
The value of diamonds produced in Botswana places it first among all countries, although the country’s overall production took second place in terms of quantity. This area is home to both the headquarters of De Beers as well as the primary production facility for the corporation at the present time. In 2013, Botswana produced a total of 23.2 million carats, which had a market value of $3.63 billion.
Orapa and Jwaneng are the most well-known of the nation’s seven mines. Jwaneng is also a famous mine. These two mines are utilized by the De Beers Corporation. There are also two more participants operating in this African nation, and their names are Lucara and Kimberley Diamonds. Botswana is home to a wide range of unique diamonds, each with their own distinct colour and shape. The majority of the diamonds are of a high quality, and they are shaped like a dodecahedron.
3. Democratic Republic of Congo
Regardless of the fact that Democratic Republic of the Congo is the leading diamond producer in Africa, there is very little information available regarding production. The Democratic Republic of the Congo (DRC) has a rich history like a diamond-mining nation and is presently the third biggest diamond-producing nation by quantity.
This is despite the fact that production has dropped significantly over the past few years. The majority of mining in the Democratic Republic of the Congo is done in the informal sector rather than by mining companies. It is estimated that there are approximately 700,000 people working in the country’s artisanal diamond mining located in alluvial deposits.
Miniere de Bakwange is the only commercial diamonds producer in the Democratic Republic of the Congo. It is a partnership between the Belgian company Sibeka as well as the DRC government. De Beers has a 20% ownership stake in Sibeka and is responsible for marketing approximately 33% of the company’s production. In comparison to the output of the other mines, the MIBA mine generates diamonds of a poorer quality. White diamonds of exceptional quality are sometimes discovered in different parts of the world.
The number of diamonds that Australia produces places it fourth among all countries in 2022. The mining of diamonds in Australia didn’t get started until the early 1980s. The country has developed a significant number of open-pit mines that are rich in diamonds during the course of its history.
In spite of the fact that this country is the world’s leading producer of the diamonds, the reserves are gradually being depleted as a result of excessive mining. Despite this, it is anticipated that Australia will continue to produce a significant quantity of diamond carat in the future.
Due to the fact that it is the greatest producer of colour diamonds in the world, Australia is one of the most important players in the diamond industry. In addition to creating some of the most exceptional yellow diamonds in the world, Australia is famous for the pink, purple, & red diamonds it produces.
The bulk of the country’s diamond production is comprised of stones with poor color and clarity grades. Rio Tinto is the owner of Australia’s largest diamond mine, Argyle, which it also manages.
The Argyle mine is the second most productive diamond mine in the world, producing more than 12 million carats year after Orapa in Botswana. After many years of laborious struggle, the mine is currently being operated underground. The other 2 mines in Australia are Ellendale and Merlin, with the latter mine being in the period of ramping up production. The Argyle mine is now the top manufacturer of natural color diamonds in the world, particularly the pink & red diamonds that come from the Argyle mine. These gems are highly rare and fetch a high price. The conclusion of mining operations, on either hand, was reached in November of 2020.
The diamond industry in Canada is the 5 largest. After the finding of diamonds in 1991, diamond mining didn’t get started in this North American country until 1998. Diamond resources have been found in several different locations of the country over the course of the past several decades.
Throughout the entirety of the twentieth century, the vast majority of people have never regarded Canada to be a significant producer of diamonds. Two forward-thinking individuals with a firm conviction put Canada on the map as a country that is capable of producing rough diamonds. Chuck Fipke & Stewart Blossom made the discovery in 1991 that there were indications of diamonds-bearing Kimberlite pipelines in the North – west territories, approximately 200 km from of Yellowknife. Today, Canada is consistently ranked among the top producers of diamonds in the world.
There are now four active diamond mines in Canada, and their names are Snap lake, Diavik, Ekati, & Victor. The Ekati mine was the very first one in the country to begin producing diamonds. This substantial resource, which provides a selection of goods from a variety of categories, is owned and managed by Dominion Diamonds. The vast majority of the diamonds discovered in Canada are colorless, and those that are not are of exceptionally high grade.
6. South Africa
The contemporary diamond industry may trace its roots back to South Africa. Diamond was not a typical component of jewelery until mining operations began to focus on the precious stones. Every year, the nation generates over 7 million carats worth of diamonds.
The province of Gauteng in South Africa is home to one of the country’s most significant diamond reserves. As large diamond resources and pipelines are discovered by both the government and private miners in South Africa, it is anticipated that the country’s diamond production would expand.
Diamond Production FAQs
Q1. What Are Conflict Diamonds?
Ans: Conflict diamonds, also known as “blood diamonds,” are diamonds that originate from areas controlled by rebel forces or other factions that use the profits from diamond sales to finance armed conflicts against legitimate governments. These diamonds have been associated with human rights abuses, forced labor, and environmental damage.
Q2. What Are The Different Stages Of The Diamond Production Process?
Ans: Well, after the exploration activities and identification of potential diamond deposits, the mining process begins, which involves extracting the diamond-bearing rock from the earth. The extracted material is then processed to separate the diamonds from the surrounding rock. After the diamonds are recovered, they are sorted and categorized according to size, shape, color, and quality. And then comes the processing part, where they are polished and shaped for further use.
Q3. What Is The Difference Between Natural Diamonds And Lab-Grown Diamonds?
Ans: Natural diamonds are formed deep within the earth’s mantle over millions of years, while lab-grown diamonds are created in a controlled environment using advanced technological processes. These processes, such as High-Pressure High-Temperature (HPHT), and Chemical Vapor Deposition (CVD), replicate the conditions under which natural diamonds form. Although lab-grown diamonds share the same physical, chemical, and optical properties as natural diamonds, they typically have a smaller environmental footprint and are often more affordable.
Q4. How Do Diamond Producers Ensure The Traceability Of Their Diamonds?
Ans: To ensure the traceability of their diamonds, producers adopt various measures to track the stones throughout their journey from the mine to the final consumer. This includes implementing strict chain-of-custody protocols, requiring documentation at each stage of the supply chain, and using technologies like blockchain and unique identification numbers to securely record and verify the origin and ownership of each diamond.
Q5. How Do Diamond Producers Manage Supply And Demand To Ensure A Stable Market And Avoid Price Volatility?
Ans: Diamond producers closely monitor global economic trends and consumer demand, adjusting their production levels accordingly. By regulating the supply of rough diamonds entering the market, they can help prevent an oversupply that could lead to price volatility.